Smart Parking Systems: A Review of Optimization Techniques and Technological Advances

ABSTRACT In heavily populated, traffic‐heavy cities, smart parking systems (SPS) are recognized as an efficient way to manage parking spots. The optimization methods and technological developments in the area of smart parking systems are examined in this review study. The essay begins by discussing the challenges in managing parking and the necessity of SPS. Following that, it delves into a variety of optimization strategies, including Internet of Things‐based methods, genetic algorithms, machine learning algorithms, and dynamic programming. This study also examines new hardware and software platforms, smart sensors, predictive systems, and other technical advancements, evaluating how these impact the effectiveness and performance of SPS. The objectives of this study are to provide a comprehensive analysis of current advancements in the industry, identify problems and opportunities for the future, and propose solutions to enhance SPS moving forward.